Return to News Categories

ALL NEWS SECTIONS:
MOST POPULAR SECTIONS:
Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

Marathon Oil (MRO) Crosses Pivot Point Support at $12.61

Aug 14, 2019 (SmarTrend(R) News Watch via COMTEX) --

Shares of Marathon Oil (NYSE:MRO) have bearishly opened below the pivot of $12.92 today and have reached the first support level of $12.61. Investors may be interested in a cross of the next downside pivot targets of $12.27 and $11.62.

Marathon Oil share prices have moved between a 52-week high of $24.20 and a 52-week low of $11.56 and are now trading 9% above that low price at $12.58 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.2%.

Marathon Oil has overhead space with shares priced $12.58, or 43.8% below the average consensus analyst price target of $22.39. Marathon Oil shares should first meet resistance at the 50-day moving average (MA) of $13.50 and find additional resistance at the 200-day MA of $15.62.

SmarTrend recommended that its subscribers protect gains by selling shares of Marathon Oil on May 1st, 2019 by issuing a Downtrend alert when the shares were trading at $16.84. Since that call, shares of Marathon Oil have fallen 23.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to SmarTrend at cs@mysmartrend.com

---------------------------------------------------------------------------------------------

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

Copyright, Comtex News Network, Inc. 2019

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.


Extreme Futures: Movers & Shakers

Hottest

Actives

Gainers

Today's Hottest Futures
Market Last Vol % Chg
Loading...

close_icon
open_icon